The New Nation - Internet Edition

AT a recent discussion meeting organised by the Bangladesh Economic Association, academics and economists demanded the adoption of 'a comprehensive energy policy' without any option for gas export with a view to ensuring people's right to natural resources for long-term use. They also demanded that the interim government should not sign any production-sharing contract with international oil companies if the country is to secure its energy future. They questioned the efficiency level of foreign oil companies for which the devastating Magurchhara and Tengratila blowouts took place in the recent past causing colossal damages to resources.

For obvious reasons, the speakers reminded that the trans-national companies create crisis in the country to dictate terms of production-sharing contracts. As reported about 85 per cent of gas is now used to generate electricity which is a must for attaining food security and development of the country. Signing of any contract to engage foreign companies in the country's most important natural resource would not be wise at all. Some of the experts mentioned that framing of terms besides provisions made in the actual production-sharing contract for deals with foreign companies is deeply related to energy and food security as well as real national development.

The pending case of Anti-Corruption Commission involving the Canadian Niko oil-gas company and the top government leaders and officials speaks of underhand dealings of severe nature against the country's interest. Earlier, the special assistant to the chief adviser on energy advocated gas export though the country is facing problems as the government fails to supply the required gas to local industries as the gas reserve is depleting fast. There should be no hurry on the part of the interim government for contracts that have far-reaching impact on country's resources and the national economy.